India Resists US Tariff Threats, Strengthens Moscow Ties Before Putin-Trump Talks
/ Aug 14, 2025, 07:20PM IST
All eyes are on Alaska, where Trump and Putin meet on August 15 to seek a Ukraine war breakthrough. For India, the stakes are high: Washington has slapped a 50% tariff over Russian oil imports, with threats of escalation. MEA spokesperson Randhir Jaiswal says India won't trade away its Russia partnership for better US trade terms. EAM Jaishankar's planned Moscow trip underscores this commitment. As Lula calls for a BRICS pushback against US tariffs, India has made it clear de-dollarisation is not on its agenda. With global trade rivalries peaking, New Delhi's refusal to bend could redefine its role in the new economic order.#india #ustradewar #trumpputinsummit #indiarussia #usindiarelation #tariffwar #modigovernment #russiaoil #trumpnews #brics #geopolitics #meabriefing #traderow #globaldiplomacy #usdollar #dedollarisation #putinvisit #worldpolitics #foreignpolicy #jaishankar #breakingnews #trending #trendingnow #toi #bharat #toibharat #indianews
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News18
26 minutes ago
- News18
Russia Ukraine War Ukrainian Drone Strikes Hit Russia Ahead of Trump-Putin Alaska Summit
A wave of Ukrainian drone strikes has hit multiple cities in southern Russia, leaving at least 16 people injured just one day before the high-stakes Trump-Putin meeting in Alaska aimed at ending the Russia-Ukraine war. News18 Mobile App -
&w=3840&q=100)
First Post
26 minutes ago
- First Post
Trump discussed Nobel Peace Prize and tariffs in call with Norway's finance minister: Report
Several countries including Israel, Pakistan and Cambodia have nominated Trump for brokering peace agreements or ceasefires, and he has said he deserves the Norwegian-bestowed accolade that four White House predecessors received. This is an AI generated image for representational purpose. US President Donald Trump called Norway's Finance Minister Jens Stoltenberg unexpectedly last month, raising both trade tariffs and his ambition to secure the Nobel Peace Prize. The conversation, first reported by Norwegian daily Dagens Næringsliv on Thursday, was later confirmed to POLITICO by a government official in Oslo. According to the paper, it was not the first occasion on which Trump had brought up the prize in talks with Stoltenberg. Trump, who has been nominated by countries including Israel, Pakistan and Cambodia for mediating peace deals or ceasefires, has earlier said he deserves the Norwegian-awarded honour, which has gone to four former US presidents. 'Out of the blue, while Finance Minister Jens Stoltenberg was walking down the street in Oslo, Donald Trump called,' Dagens Naeringsliv reported, citing unnamed sources. STORY CONTINUES BELOW THIS AD 'He wanted the Nobel Prize – and to discuss tariffs.' With hundreds of candidates nominated each year, laureates are chosen by the Norwegian Nobel Committee, whose five members are appointed by Norway's parliament according to the will of Swedish 19th century industrialist Alfred Nobel. The announcement comes in October in Oslo. The Norwegian newspaper said it was not the first time Trump had brought up the prize in conversation with Stoltenberg, a former secretary general of the NATO military alliance. It quoted Stoltenberg as saying the call was to discuss trade tariffs and economic cooperation ahead of Trump's call with Norwegian Prime Minister Jonas Stoere. Asked if Trump made the Nobel prize an issue, Stoltenberg said: 'I will not go further into the content of the conversation.' Several White House officials, including US Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer were on the call, Stoltenberg said. The White House on July 31 announced a 15% tariff on imports from Norway, the same as the European Union. Stoltenberg said on Wednesday that Norway and the United States were still in talks regarding the tariffs. With inputs from agencies
&w=3840&q=100)
Business Standard
26 minutes ago
- Business Standard
Crude oil prices rise as US Fed rate cut, Trump-Putin talks loom
Oil prices rose about 1% on Thursday after U.S. President Donald Trump warned of "severe consequences" if his talks with Russian President Vladimir Putin on Ukraine fail and on expectations that a U.S. interest rate cut next month could spur oil demand. Central banks, like the U.S. Federal Reserve, use interest rates to control inflation. Lower interest rates reduce consumer borrowing costs and can boost economic growth and demand for oil. Brent crude futures were up 87 cents, or 1.3%, to $66.50 a barrel at 10:53 a.m. EDT (1453 GMT), while U.S. West Texas Intermediate (WTI) crude rose 88 cents, or 1.4%, to $63.53. Those price gains pushed both crude benchmarks out of technically oversold territory for the first time in three days. Brent closed on Tuesday at its lowest price since June 5 and WTI closed at its lowest price since June 2 due in part to bearish inventory and supply data from the U.S. Energy Information Administration and the International Energy Agency. [EIA/S] Putin on Thursday praised "sincere efforts" by the U.S. to end the war in Ukraine and floated the prospect of a nuclear arms deal ahead of a summit on Friday in Alaska with Trump. U.S. allies in Europe have urged Trump to stand firm. Russia was the second-biggest producer of crude in 2024 behind the U.S., so any agreement that may ease sanctions on Moscow would likely boost the amount of Russian oil available for export to global markets. Trump on Wednesday threatened "severe consequences" if Putin does not agree to peace in Ukraine. The U.S. president did not specify what the consequences could be, but he has warned of economic sanctions if the meeting on Friday proves fruitless. Trump has threatened to enact secondary tariffs on buyers of Russian crude, primarily China and India, if Russia continues its war in Ukraine. "The uncertainty of U.S.-Russia peace talks continues to add a bullish risk premium given Russian oil buyers could face more economic pressure," Rystad Energy said in a client note. Some analysts, however, remained sceptical that Trump would take action that could significantly disrupt oil supplies. FED RATE CUT Expectations that the Fed will cut interest rates in September also propped up oil prices. Traders overwhelmingly believe a cut will happen next month after U.S. consumer prices increased at a moderate pace in July. U.S. Treasury Secretary Scott Bessent said he thought an aggressive half-percentage-point cut was possible given recent weak employment numbers. But a jump in U.S. wholesale prices last month looks to have all but erased the possibility that the Fed will deliver a jumbo-sized half-percentage-point interest rate cut in September, though expectations for a quarter-percentage-point move next month, followed by another in October, remain intact. San Francisco Fed President Mary Daly has pushed back against the need for a 50-basis-point rate cut at the U.S. central bank's September 16-17 meeting, the Wall Street Journal reported on Thursday. In Europe, meanwhile, Norwegian oil and gas investments are expected to peak this year, and start declining next year as major projects are completed, a statistics office survey of industry players showed on Thursday. Norway produces about 2% of global oil. It became Europe's largest supplier of pipeline gas after Russia's invasion of Ukraine in February 2022. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
